Algeria inks 4-bln-USD gas deal with 3 int'l energy groups-Xinhua

Algeria inks 4-bln-USD gas deal with 3 int'l energy groups

Source: Xinhua| 2022-07-19 21:09:57|Editor: huaxia

ALGIERS, July 19 (Xinhua) -- Algeria's state-owned oil company Sonatrach inked on Tuesday in Algiers a deal worth 4 billion U.S. dollars with three energy companies from Europe and the United States.

The agreement reached between Sonatrach and U.S. company Occidental, Italy's Eni, and France's Total Energy, will supply Italy with natural gas amid a likely cut of Russian gas to Europe.

Under the contract, Sonatrach and the three Western oil companies will develop the Berkin gas field, located 300 km southeast of Hassi Messaoud, in the south of Algeria.

Prior to the signing of the agreement, Algerian President Abdelmadjid Tebboune said on Monday that this deal aims to supply Italy with "large quantities of Algerian natural gas."

Tebboune made the remarks during a joint press conference with Italian Prime Minister Mario Draghi, who came to the North African country to secure natural gas sources for his country.